Singapore Exchange amending rules on securities trading, market practices

SGX signage at the Shenton Way building; taken October 2018.SGX signage at the Shenton Way building.

Singapore Exchange said Friday it would amend rules on securities trading and market practices, effective 3 June, after supportive feedback from a public consultation.

“The amended rules are more principles-based, and are aimed at supporting members, dealers and remisiers, including new joiners, in their activities,” SGX said in a statement.

SGX’s summary of the changes is:

  • Less prescriptive rules on customer account opening.
  • Members and remisiers will have full flexibility as to the structure of their relationship including the quantum of security deposit.
  • Members will no longer need to obtain written acknowledgement from clients when they operate off-premises.
  • Senior management pre-approval for staff trading will no longer be needed as long as procedures are in place to monitor staff trading and guard against misuse of information.
  • New notification framework for registration of trading representatives.
  • Members will have the discretion to approve substantial shareholdings and other businesses of their trading representatives.
  • Designated market makers will have adequate time to make public announcements when they cease to quote.

SGX added that it would also re-organize the trading rulebook for more clarity.


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